Debt Company Giving the Wrong information to Credit Checkers

gabdazzling

Hi, I had a Virgin Credit card which was sold to CapQuest. I've been paying the agreed amount for over a year now, but have just discovered that a company called Arrow Global have the same debt linked to them on my credit score and are claiming each month that it is still in default.

I spoke to CapQuest and they have confirmed that the payments are up to date and the plan is still in place and ongoing but they didn't mention Arrow and weren't helpful in terms of getting the default notice removed from my credit file. This means that my credit score is now shot and I'm not quite sure who to speak to next. Virgin were helpful but said they couldn't take the debt back so should I now chase Arrow and request they remove the default from my record with them or is it possible that they have sold it on to CapQuest?

This has caused me huge problems as we are in the middle of selling our house and want to port our mortgage across to the new property rather than take out a new mortgage and the mortgage company are being massive pains because of the default notice.

Any help gratefully received.

redux

Capquest is owned by Arrow Global. Arrow Global doesn't do as much direct customer facing stuff itself and appoints Capquest on its behalf (or others in the past).

So it is probably the case that your account is owned by Arrow Global, but your contact is with Capquest.

Agencies traditionally mark default on the account continually after it happens, even when an agreed payment plan is being met. The default disappears from the credit file after 6 years, whatever state it is in by then.

If you dispute it being shown as defaulted talk to Capquest and/or Arrow

gabdazzling

But surely if I'm paying the agreed amount, one the date requested they shouldn't still be saying it in default, the debt has been paid off by Arrow and is now an account with them and I've never missed a payment. When I spoke to virgin they said it should appear as a new account as currently it shows as a CC payment default rather than payments to debt collection agency. If they mark it as default every month till I can pay it off my credit score is never going to improve and it's the only mark against my name.

National_Debtline

Hi gabdazzling,


For the debt to be with a debt collector it means that the account defaulted and that will be recorded on your file and that means that the full balance is due and any arrangement made to pay is informal. You could ask Capquest to mark the account as 'Arrangement in Place' rather than default every month but the original default date will stand I am afraid.

It will come off 6 years from the date of default. You will need to check the terms and conditions of how the mortgage ports to see if there could be any other issues.


Laura
@natdebtline